RealNews

IT security to go offshore. Maybe

IT security – once the most closely-guarded IT function – could become the next candidate for offshoring. As the security market has evolved, more companies have outsourced functions like security monitoring and response. Tight corporate budgets and a skills shortage of suitably qualified security professionals have accelerated this trend. According to the Yankee Group, managed security services revenue is set to grow from $1.5bn in 2002 to $3.7bn in 2008. Maria Cirino, a SVP at VeriSign and head of its managed security service business, explained that the market started with mid-range companies outsourcing the management of their security infrastructures has now developed to embrace larger corporates. A swathe of corporate governance regulations, such as Basel II banking regulations and the US Sarbanes-Oxley Act on accounting, recently came into force. Cirino reckons outsourcing security helps companies to comply these regulations. Full Story

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